RBI signs MoU with Madhya Pradesh Govt

The RBI has signed a MoU with the MP Government towards carrying out the central bank's developmental role.

Reserve Bank of India (RBI) has signed a Memorandum of Understanding (MoU) with the Government of Madhya Pradesh towards carrying out the central bank's developmental role.

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"As a part of its development role, RBI will be assessing the training and computerisation needs of the urban co-operative banks in the state of MP with the objective of upgrading their human resource skills and technological infrastructure to improve their operational efficiency and quality of management information systems," RBI said in a release.

In the mid-term review of annual policy announced in October 2004, RBI had announced that a vision document for urban co-operative banks would be prepared. Accordingly, the Reserve Bank placed in public domain a draft vision document in March 2005.

Similar MOUs have also been signed with the states of Andhra Pradesh, Gujarat and Karnataka, it added.